EverythingForex
Long

UPDATE #1: TRADE: BUY@.72567 AUDUSD: Triangle completion

FX:AUDUSD   Australian Dollar/U.S. Dollar
2798 14 38
One thing is obvious. This pair is consolidating. Lots of back and forth. So much so that now I can see yet another triangle forming within the larger POTENTIAL triangle. And the recent price movements have also led to a POTENTIAL butterfly pattern as well. This butterfly would finish somewhere above the upper TL of the larger triangle slightly above where the POTENTIAL bat would complete. IF prices get there. Which at this point, is unknowable.

What I have done is to move my TP1 to the completion of that POTENTIAL smaller triangle while making the completion of that larger triangle's point 5 as the TP2. Stops for this trade have not been moved as of yet. They still are below the point 4 of the larger triangle which is also the origination point of the bat.

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.
Performance Summary & Public Trade Log: http://bit.ly/29AeqnC
Sep 18th Weekly Indexes newsletter: http://bit.ly/2w2ODMH (FREE Access)
Want results like this? Join us: http://bit.ly/29x4bfM
with the gartley pattern, are you assuming that it the pattern completes and target 1 is hit (Predictive analysis), then target 1 will be your entry to go long?
or u using a 50% fib retracement as your entry level
Reply
anthony.pham00 anthony.pham00
snapshot
Reply
hi your not sending idea in last 4 days why
Reply
muneergohar muneergohar

i follow your ideas
Reply
Hi, I've been operating this based on Elliot wave in TF H4 , and i used a Fibonacci from candle 29-10-15 08:00 hs to candle 12-10-15 16:00, and I think maybe the price goes down to the 50% level of Fibonacci (0.717) to complete the wave "C"
Reply
If price breaks down the minor sr level @ .72048, can it be considered down trend towards .71 levels?
Reply
Awesome! Bought at @.72567. Are we looking at abt +60 pips?
Reply
great, already in buy @ .72507
Reply
@EverythingForex - Other triangles that have bottom around .710**, are they still valid or price reach that point in near future?
Reply
I closed my au long when I observed 4h candle unable to close above 20 sma.
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out